The Reinsurance Directive was adopted in 2005 and was to be implemented by member states no later than 10 December 2007 (with some provisions coming into force by 10 December 2008). Although a number of member states missed the 2007 deadline, most have now completed their implementation or are expected to do so by December 2008. …
Read More UK: EAPD Publishes Updated Guidance Note on Implementation of the Reinsurance Directive

On 16 October 2008, the Department for Business, Enterprise and Regulatory Reform (BERR) published a consultation document seeking comments in respect of the European Commission’s proposal for the creation of European Private Companies, which was published in June 2008. …
Read More UK/EU: Consultation on EU Proposal to Enable the Creation of European Private Companies

On October 15, 2008, the Oregon Department of Consumer and Business Services (“DCBS”) announced that Scott Kipper is stepping down from his position as the Insurance Division Administrator effective October 31, 2008.  Kipper’s appointment as Administrator began on December 27, 2007, as we reported here. 

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Read More Oregon Insurance Administrator Scott Kipper Steps Down

The United States Court of Appeals for the Fifth Circuit recently rejected an excess insurer’s arguments in favor of temporal and subject matter stacking and affirmed summary judgment dismissing its subrogation claims against certain primary insurers.
Read More Fifth Circuit Rejects Excess Insurer’s Temporal and Subject Matter Stacking Arguments

A Florida federal district court recently held that an appraiser’s finding that an insurer’s settlement of a property claim was too low cannot, by itself, sustain a cause of action for statutory bad faith. 

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Read More Florida Federal Court: Appraiser’s Finding That Insurer’s Calculation of Loss Was Too Low Is Insufficient to Support Statutory Bad Faith Claim

Mark Everiss, Selinda Melnik, Nick Pearson, Mary Pat Cormier and Nick Stern of Edwards Angell Palmer & Dodge attended the second day of the AIRROC/Cavell Commutation & Networking Event 2008. Selinda Melnik and Mary Pat Cormier hosted a very  well attended Women’s Networking Lunch. 

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Read More AIRROC/Cavell Commutation & Networking Event 2008

On October 16, 2008, the Superintendent of the New York State Insurance Department (the “Department”), Eric R. Dinallo, issued Circular Letter No. 20 (2008) (the “Circular Letter”) setting forth “contract certainty” expectations for property/casualty policies and reinsurance contracts. 

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Read More New York Insurance Department Sets Expectations of Contract Certainty for Insurance Policies and Reinsurance Contracts

The United States Bankruptcy Court for the District of Massachusetts recently denied a mortgage purchaser’s Motion for Relief from Automatic Stay of Chapter 13 proceedings on the ground that the purchaser lacked standing where it could not provide documentary evidence showing each transfer of the mortgage. …
Read More Massachusetts Bankruptcy Court: Purchaser of Mortgage Lacks Standing to Seek Relief From Bankruptcy Stay to Foreclose Where It Lacks Evidence of Transfers of Mortgage

Last week, the head of the New York State Insurance Department (“NYSID”), Superintendent Eric Dinallo, announced the signing of a memorandum of understanding (“MoU”) with Hector Sants, Chief Executive Officer of the Financial Services Authority (“FSA”) in the UK.  The MoU provides for a formal exchange of information relevant to each organization’s supervisory, regulatory and examination responsibilities. …
Read More The New York State Insurance Department Enters Cooperation Agreement with the Insurance Regulator in the United Kingdom

The 2008 AIRROC/Cavell Commutation & Networking Event in New Jersey USA, which began yesterday and lasts until Wednesday, is being attended by Nick Pearson, Mary Pat Cormier, Selinda Melnik and Nick Stern of Edwards Angell Palmer & Dodge. 

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Read More AIRROC/Cavell Commutation & Networking Event 2008